7 Investors Back First Blockchain Based Bond Dubbed Bond-I

The month of August saw the world bank and commonwealth bank of Australia come together to unveil the first ever blockchain bond in the global finance sector. This move has attracted a lot of interest from a large number of institutional investors. According to CCN august 10 report, the World Bank made the decision to go with the commonwealth bank of Australia in launching the first-ever blockchain bond. The highly publicized bond will be based on the ethereum blockchain network. The ambitious and innovative project dubbed Bond-I will be backed up by various technologies. Chief among the technologies used to make the blockchain based instrument a success is Microsoft’s blockchain cloud computing platform, Azure.

The platform, Azure, is compatible with the Ethereum network when it comes to settling orders. This was confirmed by Microsoft when they revealed that ethereum was able to facilitate investments in the blockchain based bond with sufficient scaling. James wall, general manager of the commonwealth bank of Australia heralded Bond- I as a monumental breakthrough I the blockchain sector since it well portrayed the potential of decentralized systems like Ethereum in the traditional financial market. He further stated that he believed the transaction would be groundbreaking and will showcase the blockchain as a viable platform for different participants.

James wall was not alone in his admiration for Bond-I, institutional investors also showed a keen eye for the project. According to a local Australian publication known as “Business chief”, Bond-I has received backing from seven institutional investors. This has also led to a surge in demand from governments, financial institutions, and investment firms. In a recent interview, the general manager of the CBA, James Wall, expressed excitement in the level of interest and attention Bond-I had elicited. He stated that he was confident of the market’s readiness for the project. He also expressed great pleasure after having the opportunity to work hand in hand with the World Bank.

He went on to reveal that the bond had been quite successful, after it saw the World Bank raise 80 million dollars due to the short term growth of the bond. World Bank treasurer Arunma Oteh communicated the institution’s satisfaction with the high demand for Bond-I from high profile investors. She also revealed the World Bank’s belief that Bond-I would grow from a concept to a reality that will see many more investors leverage decentralized technology for innovation in the capital markets.

Bond-I will go down in history as the first successful case of a commercialization of public blockchain network like Ethereum in the traditional finance industry. The rising interest in Bond-I will likely spur more investments and faster adoption of the blockchain in the global financial market. After the potential shown by Bond-I, the World Bank has pledged to further explore the applicability of the blockchain.